The Hindu Business Line : Cashew merchants pay Rs 1.5-cr tax

THE cashew merchants of Palasa in Srikakulam district, the main cashew producing centre in the State, paid Rs 1.5 crore as sales tax in advance to the commercial tax authorities on Wednesday.

At a counselling session organised in the Cashew Association hall at Palasa, Mr M. Nookaraju, President of the merchants' association, handed over the cheque to Mr P. Jakaraiah, Deputy Commissioner of Commercial Taxes.

Mr Jakaraiah said the Government had fixed Rs 10.5 crore as the target for Kasibugga circle and it was a welcome feature that the cashew merchants themselves had come forward to pay Rs 1.5 crore in advance as sales tax.

He said Palasa was famous for the cashew trade, but the merchants did not enjoy the same reputation for paying taxes. It would have to change and there should be greater compliance by merchants and the department too would make life easier for them.

During 2003-2004, Rs 1.14 crore had been collected from the merchants and the target for the current financial year had been fixed at Rs 1.5 crore, he added.

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